Taxes
- Thread starter Krgrecw
- Start date
zitothebrave
Connoisseur of Minors
I use Turbotax because I live in NH where there's no state income tax.
Don't know what state you live in, but some states offer free efile from them, then you can use Turbo Tax for free. I forget what I used to use when I lived in NJ.
But you can check this out for more info
https://www.creditkarma.com/tax/i/filing-state-taxes-for-free/
Don't know what state you live in, but some states offer free efile from them, then you can use Turbo Tax for free. I forget what I used to use when I lived in NJ.
But you can check this out for more info
https://www.creditkarma.com/tax/i/filing-state-taxes-for-free/
Metaphysicist
Not Actually Brian Hunter
hr block freefile has been fine for me. Higher limit for free file than TurboTax. I'd recommend just starting at the irs.gov site and find one that works for you (unless you are over $69,000, then no soup for you).
https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free
https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free
Thanks zito and meta. I’m not over $69,000 but I Sold some stocks and had some dividends and my friend who used to do taxes informed me once you say you have some 1099 D or 1099I, you won’t be getting a free tax return anywhere. I guess I can print it out and email it in
Youd be surprised how easy it is to self file. IRS website is surprisingly straight forward for individual taxes
Tapate50
Well-known member
From the Wall Street Journal today:
Now that you’ve paid your income taxes or are about to, let’s look at the big picture: Which of these statements is true about 2022 individual income taxes?
(A) They’ll provide 35% of federal revenue for the year.
(B) Most of the 180 million taxpayers will be lower earners, as about 70% are expected to earn less than $100,000. In aggregate, they will earn nearly 30% of the income of individual U.S. taxpayers and owe about 1.5% of the income taxes.
(C) About one quarter of filers will earn between $100,000 and $500,000, and they’re expected to have nearly half the aggregate income and owe nearly half of income taxes.
(D) The top earners will owe the most compared with their share of income. A small group—about 900,000 filers earning $1 million or more—will have 16% of income and owe nearly 40% of income taxes.
The answer: All the statements are true except (A). Individual income taxes are expected to provide 54% of federal revenue for 2022, which is more than any other levy and more than many people guess.
Overall, the data show that the lowest U.S. earners—about 43% of taxpayers with $50,000 or less—will earn 10% of total income and owe -4.8% of income taxes. This number is negative because both Republicans and Democrats have opted to route benefits such as the Earned Income Credit (for the working poor) and the Child Tax Credit through the tax system rather than another federal agency. Therefore, many filers in this group owe no net income tax and receive a check from the IRS for benefits.
For filers who do owe income taxes, the system is steeply progressive. As the data show, nearly 80% of projected income taxes for 2022 will be paid by about 10% of filers earning $200,000 or more, and those earning $1 million or more will pay half of that. All told, filers in this group will earn 44% of income earned by individuals.
https://www.wsj.com/articles/income-...=hp_lead_pos11
Now that you’ve paid your income taxes or are about to, let’s look at the big picture: Which of these statements is true about 2022 individual income taxes?
(A) They’ll provide 35% of federal revenue for the year.
(B) Most of the 180 million taxpayers will be lower earners, as about 70% are expected to earn less than $100,000. In aggregate, they will earn nearly 30% of the income of individual U.S. taxpayers and owe about 1.5% of the income taxes.
(C) About one quarter of filers will earn between $100,000 and $500,000, and they’re expected to have nearly half the aggregate income and owe nearly half of income taxes.
(D) The top earners will owe the most compared with their share of income. A small group—about 900,000 filers earning $1 million or more—will have 16% of income and owe nearly 40% of income taxes.
The answer: All the statements are true except (A). Individual income taxes are expected to provide 54% of federal revenue for 2022, which is more than any other levy and more than many people guess.
Overall, the data show that the lowest U.S. earners—about 43% of taxpayers with $50,000 or less—will earn 10% of total income and owe -4.8% of income taxes. This number is negative because both Republicans and Democrats have opted to route benefits such as the Earned Income Credit (for the working poor) and the Child Tax Credit through the tax system rather than another federal agency. Therefore, many filers in this group owe no net income tax and receive a check from the IRS for benefits.
For filers who do owe income taxes, the system is steeply progressive. As the data show, nearly 80% of projected income taxes for 2022 will be paid by about 10% of filers earning $200,000 or more, and those earning $1 million or more will pay half of that. All told, filers in this group will earn 44% of income earned by individuals.
https://www.wsj.com/articles/income-...=hp_lead_pos11
zitothebrave
Connoisseur of Minors
I have no issue with any of those facts. If anything the higher earners should be paying more.
Which is why I want to raise the capital gains tax. Really move it to more of progressive system of capital gain like progressive income. It's asinine to me that people like Bezos and Musk can be worth more than 60 nations have GDP and we have people who can't afford food, healthcare and housing.
Which is why I want to raise the capital gains tax. Really move it to more of progressive system of capital gain like progressive income. It's asinine to me that people like Bezos and Musk can be worth more than 60 nations have GDP and we have people who can't afford food, healthcare and housing.
zitothebrave
Connoisseur of Minors
I mean if Jeff Bezos wants to build and run rent controlled housing and food stamps go for it.
If the rich want to fund the welfare of the poor on their own, go for it. Otherwise pay your taxes and enjoy making more money in America than you could anywhere else in the world and support the people who're responsible for getting you there.
sturg33
I
Does creating a company that offers tens of thousands of high paying jobs not help with affordable housing or food?
Does creating a service that enables tens of thousands of small businesses to be created overnight not help pull people our of welfare?
Government gets $5T a year and yet can't solve these problems... how's the homeless situation in California going?
Does creating a service that enables tens of thousands of small businesses to be created overnight not help pull people our of welfare?
Government gets $5T a year and yet can't solve these problems... how's the homeless situation in California going?